However, in order to provide a complete picture of our recurring core business operating results, we exclude from non-GAAP net income and non-GAAP EPS the tax effects associated with SBC.

ENGADGET: Google's Q4 2011 results: $2.71 billion profit, $8.13 billion in revenue, Wall Street disappointed

This debt bias is based on the accounting rationale that interest is a tax-deductible cost of doing business while dividends are a non-deductible form of business income.

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